Overseas property news - Sotheby's enjoys record year

Sotheby's enjoys record year

Sotheby's International Realty Affiliates enjoyed a record year in 2015, as US home sales surged.

The company's affiliated brokers and sales professionals achieved approximately $80 billion in US home sales volume, 13 per cent up from the prior year and the highest annual sales volume performance in the history of the brand.

The Sotheby's International Realty brand also reported growth in its global network, which now encompasses 63 countries and territories worldwide. At year-end, the network totaled 835 offices, a gain of nearly 10 per cent, and more than 18,800 sales associates, up 14 per cent.

"2015 was a record year for domestic franchise sales for the Sotheby's International Realty brand," says Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "This year alone, we have also added 12 international, independently owned and operated affiliate brokerage locations to our global network, which will drive accessibility to the increasing level of international buyers in key luxury markets."

Outside the United States, the Sotheby's International Realty brand continued to expand into key markets in 2015, including Bahrain, Kuwait, Oman, Saudi Arabia and Qatar, as well as Chile, Finland, Ireland, The Netherlands, Nicaragua, Italy, Queensland, Australia and Buenos Aires, Argentina.

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